[johndoez]

This article is overblown, but the demographic changes in the West are heavily impacting economic growth. It isn't so much to do with saving as to do with the Boomers getting older. The Baby Boomers are retiring and their spending patterns are changing. No new cars, downsizing in property, and less expense on child rearing. At the same time there is a fertility crisis among the young, meaning we will not see another Baby Boom anytime soon. These changes are as big a reason for low growth as the rise of automation, debt levels, and deleveraging.